Abacus Planning Group Inc. Has $601,000 Stake in General Motors (NYSE:GM)

Abacus Planning Group Inc. lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,273 shares of the auto manufacturer’s stock after acquiring an additional 1,071 shares during the quarter. Abacus Planning Group Inc.’s holdings in General Motors were worth $601,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Trust Point Inc. boosted its stake in General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares during the period. Allworth Financial LP boosted its position in shares of General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after buying an additional 205 shares during the period. Avestar Capital LLC grew its holdings in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC raised its position in General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after buying an additional 213 shares during the last quarter. Finally, Holistic Planning LLC lifted its stake in General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after acquiring an additional 214 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group boosted their price target on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $59.71.

General Motors Stock Down 0.8 %

Shares of NYSE GM opened at $47.77 on Thursday. The stock has a 50-day moving average price of $50.90 and a two-hundred day moving average price of $50.13. General Motors has a 12 month low of $38.13 and a 12 month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $47.53 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is presently 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.